October 20th, 2017

In my humble opinion...

FOMO is how all great ideas spread.

 

 

Coin of the Day

Help a business of any size launch their own token.

Tokenlab is a tool to help you make your own ICO in an easy, fast, and legally-compliant way. And we're on board. The service is an all-in-one management platform that will walk you through your whitepaper, presale, token sale, and more. The whole integrated system allows you to build your ICOs with smart contracts that protect investors by being sure funds are released only where they are supposed to go. This service seems useful for smaller businesses looking to tokenize their company or brand – something that will probably be essential in the future.

Europe's adoption of Bitcoin is looking solid – and Switzerland is leading the way.

Let's start off with some good news: Payment21, the Swiss crypto transaction service, is now officially the first Bitcoin company to get full regulatory compliance from Switzerland's financial regulator. This is really big. Switzerland has been notoriously bullish about blockchain and Bitcoin and many ICOs and crypto startups have been wondering about the potential legal framework that could make Switzerland a safe haven for industry movers and shakers.

Meanwhile, in Spain, citizens might find themselves in a little more urgent situation as Catalan Separatist leaders told their supporters to withdraw cash from their bank accounts as a protest. Recently, Spanish banks' headquarters have been leaving Catalonia due to the escalating political situation, and supporters of the Catalan secession are not happy. Looks like support for crypto will probably increase, not to mention the resulting market movements.

Did you know that some Bitcoin owners use decommissioned Swiss military bunkers to store their crypto? Check out this Quartz article that takes you inside these safe havens.

The easy way or the hard way: Tezos is learning what happens when you bring in fund managers. It ain't pretty.

There's been a lot of buzz around the current development of Tezos, which was once the world's largest ICO. In July, the company had garnered over $230 million in it's token sale and around $50 million in it's pre-sale thanks to VC firms and other "institutional investors." Things were looking good. But the project's current status shows how bringing in traditional investors can complicate matters. Tezos is officially "on ice" thanks to an embroiled battle for control over what is now worth over $400 million, thanks to the appreciation of Bitcoin. This is happening between the founders, Kathleen and Arthur Breitman, and the head of the Swiss foundation they had installed to manage the incredible amount of money they raised during their fundraiser. Unsurprisingly, the Tezos coin futures price plummeted 75% yesterday. Ouch.

In theory, the Tezos team was being responsible. Other massive ICOs have fallen into similar traps after gathering insane amounts of money during pre-sales and normal token sales. Perhaps Tezos isn't ready for the market, but the more likely story is that the Swiss foundation wasn't ready to put in the good fight necessary for crypto to succeed in the current political and legal environment. Developing a product and gathering money are one thing, but executing and running a successful business is challenging for smaller companies.

Apparently Ethereum and Bitcoin supporters are having a bit of drama around credit (where credit is due). 

 

The trading volume in Venezuela has been insane. 4x since June, to be precise.

 

An article to send to your clueless friends: Here's why Silicon Valley loves Bitcoin

 

Coin to Watch 

Ark (ARK) is the one to watch – it's been looking strong throughout the uneven week we've been having.

Daily LOL

The ultimate tragedy.